The artwork estimated at Rs 7.51 cr - Rs 12.51 cr (approx), belongs to a sequence of works which brought focus to the "hands" of figures produced while Mehta lived in Delhi.
It was an illustrious time in the artist's career during which he was a key figure in the art scene of the Indian capital city.
Previously belonging to popular writer, art historian and cultural preservationist, Aman Nath, who was Mehta's neighbour in Nizamuddin in the 1970s, the painting represents an important transition in the artist's style.
Alongside would be auctioned an impressive selection of watercolours depicting views of early 20th century Bombay which are perfectly preserved and rare in their outstanding quality.
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While the first, estimated at Rs 83.46 lakhs Rs 1.25 cr, depicts Hodgkin's Wiltshire home in the UK, testifying to the close bond between these two artists, the latter comes from filmmakers Nick Gifford and his wife, Judy Marie, who were commissioned to create films on both of them.
Khakhar had gifted this work to the couple following his stay with them in their London home in 1984.
A 1950 Untitled (Nayika) oil on canvas by M F Husain will also feature in the sale, and is estimated at Rs 83.46 lakhs - Rs 1.25 cr (approx).
The artwork is a unique example of the Husain's masterly synthesis of varying classical forms, brought together on one stage.
A strong group of works by Syed Haider Raza, including six from the Norwegian collector, Per Elias Rosenlund, a close friend of the artist, will also be part of the auction.
The sale will also feature nine important drawings from a UK based collection, and will include intimate modernist works from artists such as Akbar Padamsee, Francis Newton Souza, Husain and Krishen Khanna.
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